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Trading in Swiss Listed Shares

Exchange and Trading Hours

Exchange days, exchange and trading hours determine when trading may take place in CLOB and SwissAtMid. Details of all regulations concerning times are set out in the Directive 3 and Directive 5.

On which days are trading and clearing possible?

CLOB and SwissAtMid are open from Monday to Friday, except on Swiss public holidays. Exchange days are also clearing days. This means that trading takes place and that trades are forwarded to the central counterparty (CCP) or central securities depository (CSD) for clearing and settlement. In exceptional cases, All market holidays are listed in the trading calendar.

Trading and Settlement Calendar

At what times are trading and clearing possible?

Exchange hours are from 6 a.m. to 10 p.m. CET
Clearing hours are from 8 a.m. to 18.15 p.m CET

The trading days and hours of SwissAtMid comply with the trading hours of the Central Limit Order Book of the respective Trading Segment or security.

Trading State Constellations for SwissAtMid

Orders in SwissAtMid can only be executed when the CLOB of the respective security is in the trading status «Continuous Trading».

The opening and continuous trading periods together make up the trading day.


Details on the regulation of SwissAtMid are set out in the Directive 5[pdf].

Authorisation of Trading

Rules for SwissAtMid are consistent with Lit orderbook trading, no additional authorizations are required.

Reporting Obligation

All trades on the Exchange, as described in Clause 10.1 para. 2 and 10.1 para. 3 in the Rule Book[pdf], are deemed to have been reported in the sense of FMIA.

Clearing & Settlement

Transactions in CLOB and SwissAtMid are automatically cleared by the existing CCP's and will be settled in the domestic CSD of the underlying products traded. It is not possible to execute a trade in any of the books which is not cleared. Products (including non Swiss products) currently traded on SIX will continue to settle in SIX as they do today.

Clearing benefits

Participants may choose either of the CCP's (SIX x-clear AG, LCH Ltd and EuroCCP) to conduct this business following the standard guidelines applicable on SIX.